Core Marketing Functions and Effective Marketing Decisions

Principles of Marketing
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Principles of Marketing
The Core Marketing Functions Within an Organization
Marketing functions are the tasks that are carried out in an organization so as to produce particular goods and services for sale to the suppliers, and consumers in a bid to increase its profitability (Levens, 2014). According to Levens (2014), marketing functions can be categorized into three functions, where each category takes place in every part of the marketing process. They include exchange functions, physical functions and facilitating functions.
Exchange functions are tasks that aid and allow the transfer of ownership. These tasks facilitate the movement of goods and services from the organization to the seller’s buyers and consumers (Levens 2014). The tasks include buying, selling, and pricing. Additionally, advertising, publications, and sales promotion are also tasks involved in the marketing process. Physical tasks are tasks that facilitate the movement of goods processing from the organization to the consumer. These physical tasks include storage, transporting and handling, processing and handling (Levens, 2014). Facilitating functions are tasks that help in exchange and physical functions. Examples of facilitating tasks include tasks such as promising of service, financing and taking a risk.
The Goals and Expected Outcomes of Marketing Organizational Function
Marketing is an organizational role and series of activities for generating, exchanging information and handing over merit to the customers and governing customer interaction in a way that is an advantage to the organization and other stakeholders (Armstrong and Kotler, 2013). According to Armstrong and Kotler (2013), marketing as an organizational function has various goals that it has to achieve for an organization. The marketing function aims at attracting new customers by giving them hope of providing them quality products and services of high value. Additionally, the marketing function is charged with ensuring customer retention and improved loyalty through the provision of high quality and services that guarantee customer satisfaction.
Organizations entrust marketing managers to bring new customers on board in addition to retaining the existing clientele. For instance, a marketing manager will provide high-quality goods and services to the customers than what is offered by its competitors (Armstrong and Kotler, 2013). Armstrong and Kotler (2013) add that organizations have a vital role to play in customer retention and maintaining customer loyalty. For instance, marketing managers can propose occasional discount offers and promotions for their existing customers to boost customer loyalty and sale revenues.
How Companies Create Customer-Centered Businesses
Customer-centricity is critical for the success of any business. Customer-centered businesses can be created in various ways. According to Yohn (2019), creating a customer-centric organizational culture is a way through which a company can achieve customer-centricity. For instance, Yohn (2019) notes that incorporating customer orientation is a notable method in which customer-centric organizational culture can be achieved. Yohn (2019) ...